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U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 20472 / March 3, 2008

SEC v. Keith Mohn, Mohn Asset Management, L.L.C., Mohn Financial Group, L.L.C., J. Patrick Kisor, PDK International, Inc., Agave, Ltd., Genesis Trading Associates, L.L.C., NCB Investments, Inc., PCM, L.L.C., Jason Malkin, and Gilbert Howard, Civil Action No. 02-74634 (E.D. Mich., filed Nov. 21, 2002)

The U.S. Securities and Exchange Commission announced that on February 22, 2005, the Commission and Jason Malkin entered a stipulation in the United States District Court for the Eastern District of Michigan dismissing Malkin from the above-referenced case, with prejudice. The Commission's Complaint alleged that other entities and individuals fraudulently offered and sold investments in Agave, Ltd. and Genesis Trading Associates, L.L.C. In addition, the Commission named Malkin, NCB Investments, Inc., and PCM, L.L.C., two broker-dealers formerly registered with the Commission, as relief defendants, seeking disgorgement and other relief from them in the Complaint. The Commission alleged that Malkin was the owner of NCB and PCM. The Commission did not allege that Malkin, NCB and PCM had violated the federal securities laws. By court order, NCB and PCM were placed under the control of the court-appointed receiver. After Malkin was dismissed from the case, the court entered an order against NCB and PCM, by consent, ordering them to pay to the court-appointed receiver approximately $10.5 million on August 2, 2005.

 

http://www.sec.gov/litigation/litreleases/2008/lr20472.htm

Modified: 03/03/2008